FloridaCommerce has expressed support for Governor Ron DeSantis' proposed Fiscal Year 2025-26 Focus on Fiscal Responsibility Budget. The budget emphasizes investments in workforce development, economic growth, and infrastructure readiness, with a focus on benefiting job seekers, job creators, and taxpayers in Florida.
The budget proposes $2.2 billion in tax relief for businesses and taxpayers in the state. This includes $1.6 billion to permanently repeal Florida's Business Rent Tax, $100 million for a new Venture Capital Tax Credit Program, and full exemptions for new data centers to encourage technology growth.
Governor DeSantis' initiatives over the past six years have contributed to Florida's leadership in several areas. The state ranks first in talent development, higher education, entrepreneurship and business formation, and new high-tech business establishments. Additionally, Florida has seen a 30% increase in manufacturing establishments and hosted a record-breaking 140 million visitors. Its GDP stands at $1.6 trillion, making it the world's 16th largest economy.
"Under Governor DeSantis’ forthright leadership," said Florida Secretary of Commerce J. Alex Kelly, "Florida continues to hedge against the negative economic forces of the thankfully departed Biden regime." He added that the budget reinforces economic momentum with strategic investments while delivering significant tax relief to fuel business growth and job creation.
The budget also includes various funding allocations aimed at enhancing different sectors within the state:
- $1,725,423 is allocated for SecureFlorida to combat illegal immigration.
- $25 million is designated for the Supply Chain Innovation Grant.
- $149 million is earmarked for disaster recovery through the Community Development Block Grant—Disaster Recovery program.
- Other allocations include funds for housing programs, law enforcement recruitment bonuses, veteran workforce recruitment, defense infrastructure grants, space industry financing through Space Florida, international trade show grants under SelectFlorida International Trade Show & Mission Grants program among others.
Additional affordable housing programs receive funding of $227 million while cybersecurity efforts are supported with over $2 million.